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2017-09-13 14:09:23

TEVA

Teva

$18.97

-0.36 (-1.86%)

14:09

09/13/17

09/13

14:09

09/13/17

14:09

Teva near sale of women's health assets, Bloomberg reports

Teva Pharmaceutical is near a deal to sell its women's health assets outside the U.S. to CVC Capital Partners, Bloomberg reports, citing people familiar with the matter. The assets could be valued at about $800M, sources told Bloomberg.

Stifel analyst Jonathan Block said Cooper Companies' (COO) agreement to buy Teva's (TEVA) Paragard intrauterine device for $1.1B is a good fit for Cooper's CSI franchise that helps it achieve greater scale and integration of this product "appears relatively straight forward." Paragard's favorable margin structure leads to significant accretion in year one, noted Block, who raised his price target on Cooper shares to $275 from $265 and keeps a Buy rating on the stock.

Baird analyst Jeff Johnson noted Cooper Companies (COO) announced an acquisition of the Paragard IUD from Teva (TEVA) to expand its women's health offering. The analyst likes the acquisition given its minimal integration risk and solid accretion. He remains a buyer of Cooper stock at current levels and would use any pullbacks tied to the announcement as a buying opportunity. Johnson reiterated his Outperform rating and raised his price target to $273 from $267 on Cooper Companies shares.

09/12/17

JPMS

09/12/17NO CHANGETarget $235JPMSNeutral

JPMorgan sees mixed reaction to Cooper's acquisition of Paragard

JPMorgan analyst Andrew Hanover expects Cooper Companies' (COO) agreement to purchase Teva Pharmaceuticals' (TEVA) Paragard Intrauterine Device to garner a mixed reaction from investors. It will be hard for the 7% of accretion in FY18 "to be enough," since the stock's 45% rally year-to-date is likely driven by investors focused on its consumer-focused CVI business, and this deal does not fit that thesis, Hanover tells investors in a research note. The analyst keeps a Neutral rating on Cooper with a $235 price target.

Wells Fargo analyst Larry Biegelsen notes that Cooper Companies (COO) announced that it will acquire Paragard IUD from Teva (TEVA) for $1.1B cash and expects the transaction to close by the end of CY17. The analyst believes that while deal is not cheap, it appears to be a "good strategic fit." Further, he sees the acquisition as accretive to margins but not sales growth.

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